India has upped its solar module manufacturing incentive package by a factor of five, to $3 billion.
RK Singh, India’s Minister of New and Renewable Energy, recently informed media outlets that his government has increased the incentive package for solar module manufacturing. The incentive package was initially valued at $600 million.
The program incentivizes businesses to establish solar module manufacturing facilities capable of backward integration all the way to polysilicon manufacture. They would be compensated based on yearly module output and module efficiency.
This program is part of India’s drive toward self-sufficiency in renewable energy equipment. Around 70% to 80% of India’s wind energy equipment is considered to be manufactured in the country, whereas developers import around 80% of solar modules from China. This percentage has decreased in recent years as a result of the imposition of different import tariffs.
India currently has a module manufacturing capacity of 8.8 gigawatts and a cell manufacturing capacity of 2.5 gigawatts, but no wafer or polysilicon manufacturing capability.
This is a Syndicate News Feed; edited by Clean-Future Team